Mixed-Use Triplex with Rooftop
For Sale
$699,900
2427 FRANKFORD Avenue, Philadelphia, PA 19125
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,803 SF
Lot Size0.02 Acres
Price / SF$388.19
Days on Market328
Property Features for 2427 FRANKFORD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
On Street
Appliances
Built-In Microwave, Dishwasher, Stainless Steel Appliances, Washer/Dryer Stacked, Oven/Range - Gas, Refrigerator
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,803 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
1092
Utilities
Heating system
Hot Water(Heating)
Cooling system
Ductless
Amenities
private rear patio
basement access
Building Details
Year built
2017
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
JG Real Estate LLC
(215) 467-4100
Listed By:
Ariel L Morgenstein · License #AB067988
(215) 467-4100
Added: Sep 19, 2025
Changed: Aug 6
Last Checked: Aug 12 at 12:06AM
MLS# PAPH2537182
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2017, this 1,803-square-foot mixed-use triplex includes a commercial space at street level and two residential apartments above. The storefront suite offers expansive glass frontage, hardwood flooring, contemporary finishes, a private rear patio, and basement access. Each apartment contains one bedroom and one bathroom, while the upper unit includes a private rooftop deck with city views.
The property occupies 0.0196 acres at 2427 Frankford Avenue in Philadelphia’s Fishtown neighborhood. Masonry construction, hot-water heating, ductless cooling, and on-street parking are included. The commercial and residential configuration supports live/work use, owner occupancy, or continued operation as a mixed-use income property.
The property occupies 0.0196 acres at 2427 Frankford Avenue in Philadelphia’s Fishtown neighborhood. Masonry construction, hot-water heating, ductless cooling, and on-street parking are included. The commercial and residential configuration supports live/work use, owner occupancy, or continued operation as a mixed-use income property.
Key Highlights
- 1,803‑square‑foot mixed‑use triplex built in 2017
- Commercial storefront plus two 1‑bedroom, 1‑bathroom residential units
- Private rooftop deck with city views on the 3rd‑floor apartment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,768
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$615,360
$615.4K
Cap Rate 7%
$439,543
$439.5K
Cap Rate 9%
$341,867
$341.9K
Market Conditions
NOI Build-Up for 1,803 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.5K $25.80/SF
− Vacancy
−$2.6K −$1.42/SF
EGI
$44.0K $24.38/SF
− OpEx
−$13.2K −$7.31/SF
NOI
$30.8K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$615,360
Cap Rate 7%
$439,543
Cap Rate 9%
$341,867
Alternative Uses
Best Use
Multifamily LT 5
$439.5K
$384.6K – $512.8K
NOI $30,768 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$405.1K
$354.5K – $472.7K
NOI $28,360 @ 7.0% cap · market cap 4.05%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,772
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-unit property combines a commercial storefront with two residential apartments in Philadelphia’s Fishtown neighborhood.
Where is this mixed-use property located?
The property is located at 2427 FRANKFORD Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 1,803‑square‑foot mixed‑use triplex built in 2017; Commercial storefront plus two 1‑bedroom, 1‑bathroom residential units; Private rooftop deck with city views on the 3rd‑floor apartment
